LATAM Airlines Group (NYSE:LTM) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• LATAM Airlines Group experienced a significant increase in trading volume, with about 1.6 million shares traded, marking a 139% rise from the previous session.
• Wall Street Zen downgraded the stock from a "strong-buy" to a "buy" rating, reflecting cautious sentiment among analysts, while the overall consensus remains a Buy rating with a target price of $39.00.
• Institutional investors, including Dimensional Fund Advisors and Northern Trust, have recently made substantial investments in LATAM Airlines, indicating renewed interest in the company.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) saw an uptick in trading volume on Tuesday . 1,615,190 shares traded hands during trading, an increase of 139% from the previous session's volume of 676,336 shares.The stock last traded at $47.50 and had previously closed at $49.35.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $39.00.

LATAM Airlines Group Stock Performance

The stock's 50-day moving average price is $44.92 and its two-hundred day moving average price is $37.81. The stock has a market capitalization of $14.62 billion, a PE ratio of 12.43, a P/E/G ratio of 0.47 and a beta of 3.59.

Hedge Funds Weigh In On LATAM Airlines Group

Several institutional investors have recently made changes to their positions in LTM. Blue Trust Inc. increased its holdings in LATAM Airlines Group by 44.9% in the 1st quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock worth $61,000 after acquiring an additional 604 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in LATAM Airlines Group by 761.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock valued at $88,000 after buying an additional 1,918 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group during the 2nd quarter valued at approximately $90,000. Rhumbline Advisers boosted its position in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock valued at $100,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in LATAM Airlines Group in the second quarter worth $185,000.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.